How Affluent Millennials are Reshaping the Future of Finance

•
WINNING •
Affluent
MILLENNIAL$
HOW THIS NEW POWER PERSONA
IS RESHAPING THE FINANCE INDUSTRY
AFFLUENT
1
5.5
USA
Millennials
MILLION
There are 15.5 million Afﬂuent Millennials
in the United States today.
This mighty generation has spending power...
and they’re poised for even
greater afﬂuence.
2 TRILLION
spent annually
$
59 TRILLION
to be inherited in personal wealth
$
AND
LinkedIn and Ipsos recently conducted a
global study of approximately 9,200 Millennial and
GenX Internet users across 10 countries, focusing
on the 1,507 responses from the United States.
This infographic highlights the ﬁndings of this research
and demonstrates the drastic changes this power persona
demands throughout the ﬁnance industry.
Key Findings:
Afﬂuent Millennials Are…
Eternal Optimists
Independent
Social-Centric
Open Minded
Hungry for Education
How Afﬂuent Millennials are dramatically
reshaping the future of the ﬁnance industry
32%
27%
envision a
cashless society
where currency
is no longer used
for transactions
Afﬂuent Millennials
are optimistic about
a drastically different
ﬁnancial future.
believe banks
will no longer be
primary ﬁnancial
institutions in
the future
AFFLUENT
MILLENNIALS
AFFLUENT
GENXERS
72
57
%
Afﬂuent Millennials
are making sacriﬁces
today for a brighter
tomorrow.
%
Percentage who agree: The sacriﬁces they
make now will pay off in the future
Compared to Afﬂuent GenXers, Afﬂuent Millennials are...
30%
3x
19
%
Afﬂuent Millennials
are setting ambitious
goals for their lives.
27%
3x
11%
6%
3x more likely to
start a charitable
foundation
18%
3x more likely to
start a business
Signiﬁcantly
more likely to buy
a second home
What Afﬂuent Millennials are doing
now to prepare for the future
SAVING NOW
FOR A BRIGHTER
TOMORROW
35%
More than 1/3 of
Afﬂuent Millennials
save the majority of
their paycheck
12%
69
%
THINKING
OUTSIDE THE
FINANCE BOX
$
of Afﬂuent Millennials
are open to traditionally
non-ﬁnancial services brands
47
%
ONCE THEY CHOOSE
A BRAND, THEY ARE
VERY LOYAL
of Afﬂuent Millennials
are very loyal to their
selected ﬁnancial institutions
What Afﬂuent Millennials are looking
for in a ﬁnancial services provider
When choosing ﬁnancial institutions, these
5 factors are twice as important to Afﬂuent Millennials
as they are to Afﬂuent GenXers:
SOCIAL
Does the company
have a strong
social presence?
RELATIONSHIP
Do I already have a
relationship with
this company?
SOCIAL PRESENCE
Does the company
have a positive
buzz online?
INFLUENCE
Do any of my
family members
use this company?
PURPOSE
Does the company
have a social
mission I align with?
AFFLUENT
GENXERS
AFFLUENT
MILLENNIALS
Afﬂuent Millennials want
the ability to use social
networks to help make
ﬁnancial decisions.
39%
24
%
Percentage who agree:
Social networks are a “must-have”
Status update: It’s already happening on LinkedIn
Compared to the general population on LinkedIn,
Afﬂuent Millennials on LinkedIn have 2x MORE
CONNECTIONS
COMPANY FOLLOWS
GROUP ACTIVITY
SHARES
13x
more
Afﬂuent Millennials share 13x more ﬁnance-related
content on LinkedIn than the general population
Navigating the shift:
What should ﬁnancial services providers do?
BUILD RELATIONSHIPS WITH EMERGING AFFLUENT
MILLENNIALS NOW TO ESTABLISH LIFELONG LOYALTY
DELIVER EXPERT ADVICE TO ESTABLISH
TRUST AND ENABLE INDEPENDENCE
USE SOCIAL MEDIA TO DELIVER RELEVANT,
PERSONALIZED FINANCIAL CONTENT
CAST A SHARED VISION AND HELP
EXECUTE A PLAN FOR RETIREMENT
?
What do the ﬁndings mean for
your ﬁnancial institution?
Read “Winning Afﬂuent Millennials: How this New
Power Persona is Reshaping the Finance Industry”
now for data and insights that will shape the way
ﬁnancial ﬁrms target and serve Afﬂuent Millennials.
JOIN THE CONVERSATION TO LEARN EVEN MORE!
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